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The Morad Beekman

Started by metro15
over 10 years ago
Posts: 2
Member since: Jun 2014
Discussion about 420 Beekman Hill at 420 East 51st Street in Beekman
prior comments are very out of date. stable building. low turnover. good value. prices reflect adjustment to the market. inventory reflects some estate sales. worth a second look..
Response by StevieC
about 10 years ago
Posts: 0
Member since: Aug 2015

Can someone please elaborate on the high maintenance fees. I understand the building is land-leased but is there any updated info on the lease? Thanks

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Response by metro15
about 10 years ago
Posts: 2
Member since: Jun 2014

lease is good until 2070 which is pretty long term from 2015. historically resets were usually minimal. there was one bump after the recession when the rest of nyc started rising. that's all. next reset is more than a decade away.

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Response by scout15
about 10 years ago
Posts: 28
Member since: Jun 2015

What's the lease say? If it resets to like 6% of market value / year in rent the next reset, then "more than a decade away" isn't a very long time.

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